India Business News: TCS reported 3.4% revenue growth in 2023-24, surpassing Nasscom's estimate for India's IT exports. CEO anticipates better FY25 with focus on growth ma
Stating that discretionary demand can contribute as much as 30% of incremental revenues in a quarter, Subramaniam said the September quarter results were impacted due to this aspect.
Fourth-quarter earnings season is set to start with IT major Tata Consultancy Services (TCS), which is scheduled to announce its March quarter results on Monday post-market hours.
IT major Tata Consultancy Services on Friday posted a 7.18 per cent year-on-year (YoY) rise in its December quarter (Q3FY21) profit at Rs 8,701 crore. The firm had posted a profit of Rs 8,118 crore in the same quarter last year (Q3FY20). On quarter-on-quarter (QoQ) basis, the profit grew 16.4 per cent from Rs 7,475 crore posted for the quarter ended September 2020 (Q2FY21). The number beat Street estimate which was factoring-in a 3-8 per cent year-on-year (YoY) growth in Q3 net profit. ICICI Direct, for instance, had projected a 5.7 per cent YoY jump in PAT. The September quarter net profit had a post-tax one-time impact of Rs 958 crore due to provision for ongoing litigation with EPIC, the company said in a press release.